There is a viral status update getting around Facebook relating to FB now being a public company which is supposedly changing the game in relation to your personal data. The bottom line is that the Facebook terms of service still apply and changes cannot be made without advance notification of all users.
The confusion seems to stem from the concepts of a public company, our private data and how the two are related. Long story made short, they are not related. The term public company only means that you can buy shares in the company and your private information is in no way affected as it is still protected under the terms of service that we agreed to when we signed up (we all read those terms, didn’t we?).
If you want to read the long story from Mashable, go ahead.